S
Steamboat Bill
Here is an e-mail from Heath about HCC leased properties
Beaver Creek Village Hall – The home owners in Beaver Creek wrote in the by-laws that DC cannot own property in Beaver Creek, so we have to lease this property. 4 years remaining. (One of our first 4 properties)
Breckenridge – You know the story on this one. (One of our first 4 properties)
Both Tuscany properties – We have a long term lease with the option to buy. A couple reasons for this, one is that the dollar is so week that financially, it doesn’t make since to purchase the properties right now. Also, the developer has the properties zoned as commercial properties and non Italian residences cannot purchase commercial property in Italy. So he is working on getting it rezoned to residential.
Both Playa Del Carmen Properties - (One of our first 4 properties) We were actually under contract on a 3 BR ocean front home until hurricane Wilma come through and there was significant damage to the property. We have several members with reservations on the books, so we needed to get a property there quickly, so we rented one of the units. We felt that with all the new development projects going on in that region, that leasing these properties gave us an opportunity to watch that market and pick the best resort for our members. We have 3 years remaining on the leases.
Deer Valley – We have a long term lease with the option to buy. When we started looking at properties in the area, we felt that the prices were way over priced and were starting to decline, so we leased this property to give us time for the market to adjust. Also, we wanted to test that market and make sure that was there area for we wanted to be in or should we be in Park City/The Canyons.
Again, 4 of the 7 leased properties was HCC's first 4 properties when they started the club.
Beaver Creek Village Hall – The home owners in Beaver Creek wrote in the by-laws that DC cannot own property in Beaver Creek, so we have to lease this property. 4 years remaining. (One of our first 4 properties)
Breckenridge – You know the story on this one. (One of our first 4 properties)
Both Tuscany properties – We have a long term lease with the option to buy. A couple reasons for this, one is that the dollar is so week that financially, it doesn’t make since to purchase the properties right now. Also, the developer has the properties zoned as commercial properties and non Italian residences cannot purchase commercial property in Italy. So he is working on getting it rezoned to residential.
Both Playa Del Carmen Properties - (One of our first 4 properties) We were actually under contract on a 3 BR ocean front home until hurricane Wilma come through and there was significant damage to the property. We have several members with reservations on the books, so we needed to get a property there quickly, so we rented one of the units. We felt that with all the new development projects going on in that region, that leasing these properties gave us an opportunity to watch that market and pick the best resort for our members. We have 3 years remaining on the leases.
Deer Valley – We have a long term lease with the option to buy. When we started looking at properties in the area, we felt that the prices were way over priced and were starting to decline, so we leased this property to give us time for the market to adjust. Also, we wanted to test that market and make sure that was there area for we wanted to be in or should we be in Park City/The Canyons.
Again, 4 of the 7 leased properties was HCC's first 4 properties when they started the club.